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| EQUEST INVESTMENTS BULGARIA ltd |
EQUEST BALKAN PROPERTIES plc |
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EIB has strategic majority or significant minority holdings in companies operating in target sectors of Financial Services, Property Development and Retail including: |
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Vitosha Insurance |
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EIB has a 65% equity holding in Vitosha Insurance, the fifth largest insurance company in Bulgaria established in 1997 with operations in life and non life insurance. Vitosha has a defensive insurance portfolio in Bulgaria and has a track record of limited losses on its portfolio. In August 2005 Equest signed an agreement with UNIQA Insurance, Austria 's largest insurance company on a s trategic partnership in developing Vitosha as well as in UNIQA's equity participation in Vitosha, initially at 20% with stepped plan for achieving a controlling holding in Vitosha. |
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EIB has a 100% holding in Pelican Retail Holding, a retail centre developer, that has acquired a portfolio of four development sites for conversion into retail centres. Additionally the company is continuously seeking new opportunities in developing retail sites for the growing retail market in Bulgaria . The acquired sites represent currently some 6,500 m2 in former cinem a s pace – Serdika, Evropa Palace , Urvich, and Iztok – at prime locations in Sofia which the company aims to develop into European standard retal centres during 2006. |
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Immofinance |
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EIB has a 100% holding Immofinance, a residential and second homes developer in Bulgaria with current and expected development land rights for developing up to 150,000 m2 in residential and tourism developments in the country. The principal project of Immofinance include the Embassy Suites residential project in Sofia, where the company has invested in a development of 28,000 m2 in residential homes in a gated community, Boyana Park a new residential 35,000 m2 development in the residential suburbs of Sofia and Banja SPA and Hotel, a mountain tourism project for up to 40,000 m2 in the Pirin Mountains in Bulgaria. Immofinance has an ongoing program for acquiring additional development land in order to build its development inventory for new development projects in Sofia , the mountains and in select locations on the Black Sea. |
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Avto Union |
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EIB has a 80% holding in Avto Union, a holding company for a number of Bulgarian companies with rights to import and distribute leading automotive brands and products in Bulgaria . Companies held in Avto Union include Auto Italia, with sole distribution rights for Fiat and Lancia cars, Milano Motors with sole importer rights for Alfa Romeo, Piaggio, Gilera and Vespa motorbikes and motorcycles, Star Motors, sole importers of Mazda cars for Bulgaria and Bulvaria joint importers of Opel and Chevrolet cars for Bulgaria . Additionally the company owns Motobul, the sole importer of BP and Castrol lubricants for Bulgaria with a 20% markets shares in the country and AVIS Bulgaria providing rent-a-car and fleet services for the Bulgarian market. |
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Familia Stores |
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Familia stores is a wholly owned subsidiary of EIB, after the Company acquired the remaining shares of the Familia Group in order to restructure its business and devleop it further. Familia is one of three local Bulgarian operators of convenience food stores, and currently operates 24 stores nationwide, with two more stores expected to be opened bythe end of 2006. The Investment Manager has been successful in turning around Familia's previously underperforming stores through a number of active management measures. The Familia Group has maintained a strong brand name in the country, specialising in providing high quality fresh products to an increasing customer base.
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Technomarket |
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EIB, through its wholly-owned subsidiary Axis Retail N.V, acquired 51 per cent of Lynx Property BV, which owns 100 per cent of the subsidiaries trading as Technomarket. Technomarket is Bulgarias largest wholesaler and retailer of consumer electronics and household appliances, with an estimated 40 per cent share of the Bulgarian retail market for consumer electronics and household applicances. The Group os the sole distributor of the Samsung and Panasonic brands in Bulgaria, and sells other popular brands such as Sony, Phiips, Whirlpool, Electrolux and other private label products. The Groups strategy is based on sales from big box retail locaitons. Technomarket Group currently operates 22 retail outlets throughout Bulgaria, and exports to Serbia dn FYR Macedonia, while seeking to establish retail outlets in Romania, FYR Macedonia and Serbia.
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